AMERIPRISE FINANCIAL INC | 2013 | FY | 3

Schedule I — Condensed Financial Information of Registrant
Condensed Statements of Operations
(Parent Company Only)
 
December 31,
2013
 
2012
 
2011
Revenues
(in millions)
Management and financial advice fees
$
4

 
$
1

 
$
—

Distribution fees
1

 
—

 
9

Net investment income
33

 
29

 
18

Other revenues
7

 
9

 
30

Total revenues
45

 
39

 
57

Banking and deposit interest expense
—

 
3

 
—

Total net revenues
45

 
36

 
57

Expenses
 

 
 

 
 

Benefits, claims, losses and settlement expenses
19

 
—

 
—

Distribution expenses
—

 
(5
)
 
5

Interest and debt expense
123

 
94

 
95

General and administrative expense
221

 
255

 
223

Total expenses
363

 
344

 
323

Pretax loss before equity in earnings of subsidiaries
(318
)
 
(308
)
 
(266
)
Income tax benefit
(85
)
 
(104
)
 
(102
)
Loss before equity in earnings of subsidiaries
(233
)
 
(204
)
 
(164
)
Equity in earnings of subsidiaries excluding discontinued operations
1,570

 
1,235

 
1,340

Net income from continuing operations
1,337

 
1,031

 
1,176

Loss from discontinued operations, net of tax
(3
)
 
(2
)
 
(60
)
Net income
$
1,334

 
$
1,029

 
$
1,116

See Notes to Condensed Financial Information of Registrant.
Schedule I — Condensed Financial Information of Registrant
Condensed Statements of Comprehensive Income
(Parent Company Only)
 
December 31,
2013
 
2012
 
2011
 
(in millions)
Net income
$
1,334

 
$
1,029

 
$
1,116

Other comprehensive income (loss), net of tax:
 
 
 
 
 
Foreign currency translation adjustment
12

 
21

 
(2
)
Net unrealized gains (losses) on securities:
 
 
 
 
 
Net unrealized securities gains (losses) arising during the period
(971
)
 
588

 
376

Reclassification of net securities gains included in net income
(5
)
 
(5
)
 
—

Impact on deferred acquisition costs, deferred sales inducement costs, benefit reserves and reinsurance recoverables
319

 
(154
)
 
(193
)
Total net unrealized gains (losses) on securities
(657
)
 
429

 
183

Net unrealized gains (losses) on derivatives:
 

 
 

 
 

Net unrealized derivative gains (losses) arising during the period
—

 
10

 
(7
)
Reclassification of net derivative losses (gains) included in net income
1

 
(1
)
 
(22
)
Total net unrealized gains (losses) on derivatives
1

 
9

 
(29
)
Defined benefit plans:
 
 
 
 
 
Prior service credit
(1
)
 
(1
)
 
(1
)
Net income (loss) arising during the period
46

 
(15
)
 
(50
)
Total defined benefit plans
45

 
(16
)
 
(51
)
Total other comprehensive income (loss), net of tax
(599
)
 
443

 
101

Total comprehensive income
$
735

 
$
1,472

 
$
1,217

See Notes to Condensed Financial Information of Registrant.
Schedule I — Condensed Financial Information of Registrant
Condensed Balance Sheet
(Parent Company Only)
 
December 31,
 
2013
 
2012
(in millions, except share amounts)
 
Assets
 

 
 

Cash and cash equivalents
$
925

 
$
900

Investments
743

 
894

Loans to subsidiaries
457

 
467

Due from subsidiaries
416

 
225

Receivables
64

 
12

Land, buildings, equipment, and software, net of accumulated depreciation of $805 and $756, respectively
250

 
251

Investments in subsidiaries
7,652

 
8,200

Other assets
1,224

 
1,350

Total assets
$
11,731

 
$
12,299

 
 
 
 
Liabilities and Shareholders’ Equity
 

 
 

Liabilities:
 

 
 

Accounts payable and accrued expenses
$
191

 
$
198

Due to subsidiaries
405

 
330

Debt
2,720

 
2,403

Other liabilities
560

 
612

Total liabilities
3,876

 
3,543

 
 
 
 
Shareholders’ Equity:
 

 
 

Common shares ($.01 par value; shares authorized, 1,250,000,000; shares issued, 316,816,851 and 309,399,529, respectively)
3

 
3

Additional paid-in capital
6,929

 
6,503

Retained earnings
7,289

 
6,381

Treasury shares, at cost (124,698,544 and 105,456,535 shares, respectively)
(6,961
)
 
(5,325
)
Accumulated other comprehensive income, net of tax, including amounts applicable to equity investments in subsidiaries
595

 
1,194

Total shareholders’ equity
7,855

 
8,756

Total liabilities and equity
$
11,731

 
$
12,299

See Notes to Condensed Financial Information of Registrant.
Schedule I — Condensed Financial Information of Registrant
Condensed Statements of Cash Flows
(Parent Company Only)
 
December 31,
2013
 
2012
 
2011
 
(in millions)
Cash Flows from Operating Activities
 
 
 
 
 
Net income
$
1,334

 
$
1,029

 
$
1,116

Equity in earnings of subsidiaries excluding discontinued operations
(1,570
)
 
(1,235
)
 
(1,340
)
Loss from discontinued operations, net of tax
3

 
2

 
60

Dividends received from subsidiaries
1,163

 
1,366

 
1,210

Other operating activities, primarily with subsidiaries
(34
)
 
197

 
(231
)
Net cash provided by operating activities
896

 
1,359

 
815

Cash Flows from Investing Activities
 
 
 
 
 
Available-for-Sale securities:
 
 
 
 
 
Proceeds from sales
2

 
—

 
—

Maturities, sinking fund payments and calls
191

 
30

 
239

Purchases
(109
)
 
—

 
(22
)
Proceeds from sale of other investments
43

 
1

 
—

Purchase of other investments
(1
)
 
(55
)
 
—

Purchase of land, buildings, equipment and software
(54
)
 
(38
)
 
(56
)
Contributions to subsidiaries
(106
)
 
(131
)
 
(128
)
Return of capital from subsidiaries
470

 
347

 
22

Proceeds from sale of business
—

 
—

 
150

Repayment of loans from subsidiaries
1,420

 
1,150

 
1,252

Issuance of loans to subsidiaries
(1,412
)
 
(994
)
 
(1,312
)
Other, net
20

 
(16
)
 
2

Net cash provided by investing activities
464

 
294

 
147

Cash Flows from Financing Activities
 
 
 
 
 
Dividends paid to shareholders
(401
)
 
(305
)
 
(212
)
Repurchase of common shares
(1,583
)
 
(1,381
)
 
(1,495
)
Cash paid for purchased options with deferred premiums
(4
)
 
—

 
—

Cash received for purchased options with deferred premiums
23

 
—

 
—

Issuances of debt, net of issuance costs
744

 
—

 
—

Repayments of debt
(350
)
 
—

 
(14
)
Exercise of stock options
118

 
160

 
66

Excess tax benefits from share-based compensation
120

 
64

 
90

Other, net
(2
)
 
(3
)
 
(1
)
Net cash used in financing activities
(1,335
)
 
(1,465
)
 
(1,566
)
Net increase (decrease) in cash and cash equivalents
25

 
188

 
(604
)
Cash and cash equivalents at beginning of year
900

 
712

 
1,316

Cash and cash equivalents at end of year
$
925

 
$
900

 
$
712

Supplemental Disclosures:
Interest paid on debt
$
129

 
$
139

 
$
139

Income taxes paid, net
354

 
170

 
334

Non-cash capital transactions from subsidiaries
—

 
—

 
(850
)
Non-cash financing activity:
 
 
 
 
 
Dividends declared but not paid
—

 
—

 
62

See Notes to Condensed Financial Information of Registrant.

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